ASX Release 1 July 2019 ASX: ERX

Corporate Directory Non-Executive Chairman Mr John Fitzgerald Managing Director Mr Justin Tremain Executive Technical Director Dr Francis Wedin Company Secretary & CFO Mr Scott Funston Exploration Manager Mr Elliot Grant Fast Facts Issued Capital 465.5m Market Cap $32.5m

Cash (31 Mar 2019) $12.4m Highlights Exploring for multi-million

ounce gold systems in Cote d’Ivoire, West Africa

1,345km2 of highly prospective tenure on the convergence of two proven greenstone belts

New ‘gold discoveries’ at Antoinette and Veronique

Multiple large, high tenor, coherent gold-in-soil anomalies

First pass drilling testing of several geochemical anomalies underway

Well-funded with ~$12.4 million cash for ongoing drilling and exploration success

Contact Details ACN 009 146 794 L2, 18 Kings Park Road West Perth WA 6005 PO BOX 71 West Perth WA 6872 T: +61 8 6117 0446 E: info@exoreresources.com.au W: www.exoreresources.com.au

@ExoreResources

Exceptional Drill Results at Veronique Discovery, Cote d’Ivoire

20m @ 6.46g/t gold from 8m 8m @ 4.30g/t gold from 12m

Exore Resources Ltd (‘Exore’ or the ‘Company’ | ASX: ERX) is pleased to report further exceptional shallow gold results from ongoing aircore (‘AC’) drilling at the new Veronique gold discovery, located 12kms south of Exore’s Antoinette gold discovery.

Highlights

Latest results are the best ever AC intercepts across the Company’s entire Bagoe and Liberty Project areas and as such Veronique will become the Company’s priority drilling focus

Latest results from ongoing broad-spaced, shallow AC drilling at Veronique include (refer Appendix One):

o 20m @ 6.46g/t gold from 8m

o 8m @ 4.30g/t gold from 12m

Drilling at Veronique is testing for gold mineralisation from surface to less than 30 metres depth

Potential for multiple, sub-parallel zones of interpreted WNW striking gold mineralisation with each zone extending for over 1km

Mineralisation remains open in all directions with highly anomalous geochemistry for 3.5km to the north and 3km to the south with current drilling focussed across only the central 1.6km of the >8km long, >2km wide Veronique gold anomaly

Veronique is a greenfield gold discovery, geologically analogous to the 2.9Moz Doropo gold discovery by Centamin plc, also in northern Cote d’Ivoire

Aggressive drilling program continues with a diamond rig mobilised to site

Well-funded for ongoing drilling with over $12.4 million cash (31 March 2019)

Managing Director, Mr Justin Tremain commented:

“These latest results at Veronique are excellent and are the best aircore drilling results ever returned across the entire Bagoe and Liberty Project areas. In an area that has no visible outcrop, shallow drilling at Veronique continues to correlate well with the highly anomalous soil geochemistry which extends over 8 kilometres in length.

The first aircore results at Veronique were reported only 3 months ago in March and it is quickly shaping up as a major gold discovery of high grade and significant scale, similar to other major deposits in West Africa. Veronique will be a focus for drilling by Exore as we conduct further step out drilling within this very large area.”

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Figure One | Aircore Drilling Results at Veronique

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Figure Two | 8-Kilometre-Long Veronique Gold-in-Soils Anomaly

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Exore Resources Ltd (‘Exore’ or the ‘Company’ | ASX: ERX) is pleased to report the latest aircore (‘AC’) drilling results from the exciting Veronique gold discovery within its Bagoe Project in northern Cote d’Ivoire (refer Figures Three and Four). The Bagoe Project is in a major gold producing region with several nearby large operating gold mines including Barrick’s 4.2Moz Tongon and 6.5Moz Morila mines, Resolute’s 11.5Moz Syama mine, Teranga’s 2.7Moz Wahgnion mine and Perseus’ 1.0Moz Sissingue mine.

The latest results are from two short reconnaissance AC traverses drilled in the central zone of the large (>8km long) Veronique gold anomaly. The first traverse was drilled 200m and 450m along strike from previous recent AC drilling and the second traverse was a 100m step-out on the previous AC drilling (refer Figures One and Two).

Results have been received for a portion of these latest two short traverses and significant intersections include (refer Appendix

One for full details):

Hole ID Intercept BDAC1062 20m @ 6.46 g/t gold from 8m BDAC1015 8m @ 4.30 g/t gold from 12m Table One | Latest Veronique AC Results

Importantly, these results provide further confidence in the WNW orientation theory for the central area of mineralisation, detailed in the previous announcement. Recently reported initial AC drilling at Veronique included (refer

ASX announcements dated 20 March 2019 and 17 June 2019):

Hole ID Intercept BDAC0998 12m @ 7.00 g/t gold 16m BDAC0604 12m @ 3.63g/t gold from 4m incl. 4m @ 10.12g/t gold from 8m BDAC0540 4m @ 7.58g/t gold form 20m BDAC0599 8m @ 2.71g/t gold from 0m BDAC1062 12m @ 3.12g/t gold from 36m BDAC0910 1m @ 38.01g/t gold from 28m (EOH) BDAC1014 8m @ 2.23g/t gold from 48m Table Two | Recent Veronique AC Results

These latest AC results and the last results reported 17 June 2019 are the best ever AC results returned across Exore’s entire Bagoe and Liberty Project areas and as such Veronique will become a priority drill focus for the Company.

There is no visible outcrop within the Veronique area and the area has no significant artisanal mining activity. AC drilling to date has correlated well with soil geochemistry confirming the effectiveness and validity of the 8km gold anomaly at Veronique. Drilling to date has been focussed on the central 1.6km of Veronique with highly anomalous gold geochemistry extending for a further 3km to the south and 3.5km to the north.

Holes were drilled down to blade refusal, in a ‘top-to-tail’ configuration, aiming to test for in situ mineralisation along strike from previous mineralised intercepts within the central 1.6km of wide-spaced AC lines. The lines were orientated so that both a possible WNW trend to the mineralisation at Veronique could be tested. The drilling was successful in intersecting high grade, in situ gold mineralisation, and indicating the WNW trend as the most likely orientation of gold mineralisation within the central 1.6km area of the >8km Veronique target.

Zones of mineralisation remain open in all directions. The WNW strike orientation opens up the possibility of multiple, sub-parallel, kilometre-scale mineralised lodes perpendicular to the 8km-long anomaly, >80% of which remains untested (refer Figure Two).

Initial geological observations indicate gold mineralisation is associated with zones of alteration and quartz veining within a granitoid unit, which is a similar geological setting to the recent 2.9Moz Doropo gold discovery made by Centamin plc, also in northern Cote d’Ivoire.

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Veronique is located only 12 kilometres to the south of the Company’s Antoinette gold discovery (refer Figure Three).

Drilling continues at Veronique, stepping out along strike targeting a NW/WNW striking mineralised trend. Further drilling results from the Bagoe Project will be reported as soon as they come to hand.

Figure Three | Bagoe Project

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Cote d’Ivoire Gold Projects

The Côte d’Ivoire Gold Projects cover a substantial ground position of 1,345km2 on the convergence of two of West Africa’s most prolific gold belts (refer Figures Four and Five), the Tongon Gold Belt and the Syama Gold Belt, which extend into northern Côte d’Ivoire from Burkina Faso and Mali respectively.

Significant nearby gold deposits associated with the same geology and structures include:

4.2Moz Tongon Gold Mine (Randgold) located ~40 kilometres to north-east

11.5Moz Syama Gold Mine (Resolute) located ~90 kilometres to the north

1.0Moz Sissingue Gold Mine (Perseus) located ~50 kilometres to the north

Fonondara /Boundiali gold discovery (Randgold) located immediately adjacent to the west

Figure Four | Bagoe and Liberty Project Locations in Northern Cote d’Ivoire

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Figure Five | Cote d’Ivoire

For an update on the Company’s activities in Cote d’Ivoire, please visit www.exoreresources.com.au.

For further information please contact Justin Tremain Managing Director+61 8 6117 0446 Competent Person Statement The information in this report that relates to Exploration Results is based on information compiled by Dr Francis Wedin, who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Wedin is a full-time employee of Exore Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves” (JORC Code). Dr Wedin consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears. All material assumptions and technical parameters underpinning the JORC 2012 reporting tables in the relevant market announcements referenced in this text continue to apply and have not materially changed. F

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Appendix One | AC Drilling Results, Veronique | Bagoe Project, Cote d’Ivoire

Hole ID

Easting Northing RL Dip Azi Depth From To Interval Gold Grade

BDAC1015 816607 1083917 347 -60 45 60m 12m 20m 8m 4.30g/t BDAC1062 816093 1083916 347 -60 45 60m 8m 28m 20m 6.46g/t

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Appendix Two | JORC Code (2012) Edition Table 1 Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary

Sampling

techniques

Nature and quality of sampling (eg cut channels, random chips, or

specific specialised industry standard measurement tools appropriate

to the minerals under investigation, such as down hole gamma

sondes, or handheld XRF instruments, etc). These examples should

not be taken as limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity

and the appropriate calibration of any measurement tools or systems

used.

Aspects of the determination of mineralisation that are Material to

the Public Report. In cases where ‘industry standard’ work has been

done this would be relatively simple (eg ‘reverse circulation drilling

was used to obtain 1 m samples from which 3 kg was pulverised to

produce a 30 g charge for fire assay’). In other cases more explanation

may be required, such as where there is coarse gold that has inherent

sampling problems. Unusual commodities or mineralisation types (eg

submarine nodules) may warrant disclosure of detailed information.

Aircore drilling (AC), angled drill holes from

surface

1m samples collected by industry standard

cyclone and splitter

Industry standard diameter AC drilling rods

and conventional face-sampling blade bit

Composite samples are compiled by passing

several 1m samples through a riffle splitter to

make a 4m sample, from which a 2kg sub-split

is then sent for assay

Certified reference standards inserted every 30

samples

All samples sent for analysis by 50g fire assay

(BV code FA450) to be reported at a 0.01ppm

threshold.

Drilling

techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air

blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple

or standard tube, depth of diamond tails, face-sampling bit or other

type, whether core is oriented and if so, by what method, etc).

Industry standard diameter aircore drilling rods

and conventional face-sampling blade bit

Drill sample

recovery

Method of recording and assessing core and chip sample recoveries

and results assessed.

Measures taken to maximise sample recovery and ensure

representative nature of the samples.

Whether a relationship exists between sample recovery and grade

and whether sample bias may have occurred due to preferential

loss/gain of fine/coarse material.

Samples sieved and logged at 1m intervals by

supervising geologist, sample weight, quality,

moisture and any contamination also logged

One metre samples collected from the cyclone

and passed through a riffle splitter to collect a

split; bulk remainder placed on ground in 20m

lines on site

Where composite samples are taken, one four

metre sample is compiled by passing 4x1m

samples through a riffle splitter

The splitter is cleaned after each sample pass

Cyclone is cleaned at the end of the hole, and

more often if any wet zones are encountered.

Sample quality and recovery was good, with

generally dry samples of consistent weight

obtained using the techniques, with no

material bias expected for these samples.

Logging Whether core and chip samples have been geologically and

geotechnically logged to a level of detail to support appropriate

Mineral Resource estimation, mining studies and metallurgical

studies.

Whether logging is qualitative or quantitative in nature. Core (or

costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

Recording of rock type, oxidation, veining,

alteration and sample quality carried out for

each 1m sample

Loggins is mostly qualitative

Samples representing the end of hole lithology

of each drill hole is collected and sorted into

chip trays for future geological reference

The entirety of each drill hole was logged and

assayed.

Sub-sampling

techniques and

sample

preparation

If core, whether cut or sawn and whether quarter, half or all core

taken.

If non-core, whether riffled, tube sampled, rotary split, etc and

whether sampled wet or dry.

Composite sampling was carried out. Where

composite samples are taken, one four metre

sample is compiled by passing 4x1m samples

through a riffle splitter. The splitter is cleaned

after each sample pass.

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Criteria JORC Code explanation Commentary

For all sample types, the nature, quality and appropriateness of the

sample preparation technique.

Quality control procedures adopted for all sub-sampling stages to

maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the

in-situ material collected, including for instance results for field

duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material

being sampled.

This technique is considered industry standard

and effective assay technique for this style of

drilling

1m bulk samples for each metre remain in the

field for future assay if required

Samples were generally dry and representative

of drilled material

Certified reference standards inserted every

30m

Sample sizes averaging 1.9kg are considered

sufficient to accurately represent the gold

content of one drilled metre at this project..

Quality of

assay data and

laboratory

tests

The nature, quality and appropriateness of the assaying and

laboratory procedures used and whether the technique is considered

partial or total.

For geophysical tools, spectrometers, handheld XRF instruments, etc,

the parameters used in determining the analysis including instrument

make and model, reading times, calibrations factors applied and their

derivation, etc.

Nature of quality control procedures adopted (eg standards, blanks,

duplicates, external laboratory checks) and whether acceptable levels

of accuracy (ie lack of bias) and precision have been established.

Sample collected from the project areas by site

geologist and transported from the field camp

by Bureau Veritas (BV) personnel to the BV

facility in Abidjan

Samples are crushed and pulped, and a 50g

split of whole pulped sample assayed for gold

with the lab code FA450. This method consists

of a 50g charge fire assay for gold with AAS

finish.

Quality control procedures consist of

standards and blanks inserted at a rate of 10%.

The results demonstrated an acceptable level

of accuracy and precision.

Verification of

sampling and

assaying

The verification of significant intersections by either independent or

alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data

verification, data storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

The significant intersections were produced

and verified by two different company

personnel.

The sample numbers are hand written on to

geological logs in the field while sampling is

ongoing and checked while entering the data

in to a sample register. The sample register is

used to process raw results from the lab and

the processed results are then validated by

software (Excel, Access, Datashed, ArcMap,

Micromine). A hardcopy of each file is stored,

and an electronic copy saved in two separate

hard disk drives.

No adjustment to assay data was carried out.

Location of

data points

Accuracy and quality of surveys used to locate drill holes (collar and

down-hole surveys), trenches, mine workings and other locations

used in Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

Collar located using a Garmin GPS with an

accuracy <3m.

Data are recorded in a modified WGS 1984,

UTM_Zone 29 (northern hemisphere)

projection.

Topographic control using the same GPS with

an accuracy <10m.

Data spacing

and

distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish

the degree of geological and grade continuity appropriate for the

Mineral Resource and Ore Reserve estimation procedure(s) and

classifications applied.

Whether sample compositing has been applied.

Drillholes were completed at between 450 and

100m line spacing with previous drilling, with

several “top-to-tail”, -60 degree angled holes

per section towards 45 azimuth.

The drill programme was designed to ensure

100% geological coverage of the expected

mineralised structure, testing a WNW

orientation to mineralisation.

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Criteria JORC Code explanation Commentary

Further infill drilling will be required to

establish geometry, orientation, continuity and

grade variation between holes.

Intercepts are reported as composite assays,

unless otherwise indicated in the body of the

announcement

Orientation of

data in relation

to geological

structure

Whether the orientation of sampling achieves unbiased sampling of

possible structures and the extent to which this is known, considering

the deposit type.

If the relationship between the drilling orientation and the orientation

of key mineralised structures is considered to have introduced a

sampling bias, this should be assessed and reported if material.

Drillholes were orientated along SW-NE

orientated drill lines and designed to be close

to right angles to the interpreted geological

strike orientation of mineralization. The strike

and dip of mineralisation has not been

definitely proven, therefore it is currently

unknown whether there is any sampling bias.

See figure provided in body of announcement.

Sample

security

The measures taken to ensure sample security. Samples collected in the field are brought back

to the camp and placed in a storage room,

bagged and sealed ready for lab collection.

Soil samples are collected by BV vehicle

directly from the field camp.

Audits or

reviews

The results of any audits or reviews of sampling techniques and data. No external audit or review completed due to

early stage nature of exploration.

Section 2 Reporting of Exploration Results

Criteria JORC Code explanation Commentary

Mineral tenement

and land tenure

status

Type, reference name/number, location and ownership

including agreements or material issues with third parties

such as joint ventures, partnerships, overriding royalties,

native title interests, historical sites, wilderness or national

park and environmental settings.

The security of the tenure held at the time of reporting

along with any known impediments to obtaining a licence

to operate in the area.

Korhogo (271km2) and Boundiali (379km2) are granted

exploration permits located in central north west Cote

d’Ivoire. They are held 100% by Aspire Nord SA. Exore

has an 80% interest in Aspire Nord SA.

The licences were granted 29 October 2014 and were

recently renewed for the first time to 28 October 2021.

Further renewals are permitted.

There are no impediments to working in the area.

Exploration done

by other parties

Acknowledgment and appraisal of exploration by other

parties.

Previous exploration consisted of soil sampling carried

out by by Apollo Consolidated Ltd from October 2014

to June 2018.

It is not known what/if any exploration activity was

carried out in the permits prior to that.

No artisanal workings have been noted in the

Veronique area.

Geology Deposit type, geological setting and style of mineralisation. Initial drilling at Veronique shows mineralisation is

associated with “smoky” quartz-veining hosted within

altered, sheared granitoid rocks.

Drill hole

Information

A summary of all information material to the

understanding of the exploration results including a

tabulation of the following information for all Material drill

holes:

o easting and northing of the drill hole collar

o elevation or RL (Reduced Level – elevation above sea

level in metres) of the drill hole collar

o dip and azimuth of the hole

o down hole length and interception depth

o hole length.

Drilling traverse locations shown in figure in main body

of announcement and all locations and dip/azimuth

details are provided in tables in the announcement. For

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Criteria JORC Code explanation Commentary

If the exclusion of this information is justified on the basis

that the information is not Material and this exclusion does

not detract from the understanding of the report, the

Competent Person should clearly explain why this is the

case.

Data aggregation

methods

In reporting Exploration Results, weighting averaging

techniques, maximum and/or minimum grade truncations

(eg cutting of high grades) and cut-off grades are usually

Material and should be stated.

Where aggregate intercepts incorporate short lengths of

high grade results and longer lengths of low grade results,

the procedure used for such aggregation should be stated

and some typical examples of such aggregations should be

shown in detail.

The assumptions used for any reporting of metal

equivalent values should be clearly stated.

Anomalous assay results reported at 0.25g/t Au cut-off

over every 2-4m composite, with zero internal dilution.

Relationship

between

mineralisation

widths and

intercept lengths

These relationships are particularly important in the

reporting of Exploration Results.

If the geometry of the mineralisation with respect to the

drill hole angle is known, its nature should be reported.

If it is not known and only the down hole lengths are

reported, there should be a clear statement to this effect

(eg ‘down hole length, true width not known’).

Drillholes arranged SW-NE and drilled to -60 degrees

toward azimuth 45 chosen to be close to perpendicular

to WNW geological interpretation of mineralization

Drilling is at insufficient density to definitively

determine orientation of mineralised structures.

Diagrams Appropriate maps and sections (with scales) and

tabulations of intercepts should be included for any

significant discovery being reported These should include,

but not be limited to a plan view of drill hole collar locations

and appropriate sectional views.

Appropriate diagrams relevant to material results are

accompanying this table in Figures 1 and 2.

Balanced reporting Where comprehensive reporting of all Exploration Results

is not practicable, representative reporting of both low and

high grades and/or widths should be practiced to avoid

misleading reporting of Exploration Results.

All mineralised and significantly anomalous results

above 0.25g/t cut-off reported in tables in body of

announcement.

Other substantive

exploration data

Other exploration data, if meaningful and material, should

be reported including (but not limited to): geological

observations; geophysical survey results; geochemical

survey results; bulk samples – size and method of

treatment; metallurgical test results; bulk density,

groundwater, geotechnical and rock characteristics;

potential deleterious or contaminating substances.

Reported drill traverses were designed to test for gold

mineralization in the oxide profile.

Further work The nature and scale of planned further work (eg tests for

lateral extensions or depth extensions or large-scale step-

out drilling).

Diagrams clearly highlighting the areas of possible

extensions, including the main geological interpretations

and future drilling areas, provided this information is not

commercially sensitive.

Next stage of exploration work will consist further AC

drilling along strike and in between existing lines.

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